The purpose of long-term financial planning on a business

[Chibson]

Having a long-term financial planning in any business is very important in order not to run out of finance. Any business that really wants to succeed must have a long-term financial plan put in place.

 

[Jlife]

Long-term financial planning in a business is utterly the best decision depending on the type of business you are going to, but if I may ask what of a situation in which someone has money without any proper planning of the business don't you think the business will succeed ?

 

[Razor1911]

Wh

Having a long-term financial planning in any business is very important in order not to run out of finance. Any business that really wants to succeed must have a long-term financial plan put in place.

When we inject money to our business we need to have a plan. Because a business to run properly, you need to invest a huge sum of money. And if you don't have proper management, all your money will go in gutter. Always use proper management while in business m

 

[Bookwormlux]

if this is so then operating a business is one of the most difficult thing because if you said that without proper and long-term planning of business that there is a possibility of business failure means that starting up a business is not easy.

Yes it is not easy. But this does not mean one should not consider starting one at all, but make sure you spend quality time to learn the business tips before venturing into it.

 

[Snazzy001]

Long term financial planning on a business, this requires alot and gives out alot to those who seek it.first of all, it is one of the best decisions an entrepreneur should make

 

[Sotherefore]

Yes it is not easy. But this does not mean one should not consider starting one at all, but make sure you spend quality time to learn the business tips before venturing into it.

Lolz,even though business is difficult, those people that are passionate about business will always do it no matter what,that is the function of passion because no matter how things seems difficult for people, as long as you are passionate about it you will do it.

 

[Bookwormlux]

Lolz,even though business is difficult, those people that are passionate about business will always do it no matter what,that is the function of passion because no matter how things seems difficult for people, as long as you are passionate about it you will do it.

Some claim they are passionate about a particular business venture, but they are always finding it hard to settle down and learn what is expected of them to succeed in the business.

 

[Sotherefore]

Some claim they are passionate about a particular business venture, but they are always finding it hard to settle down and learn what is expected of them to succeed in the business.

Lolz,you mean to learn as in how ? I only believe that you do not have to learn as you said that with proper planning and preparation that you will succeed in any area of business you are passionate about, is there any need to learn ?

 

[Bookwormlux]

Lolz,you mean to learn as in how ? I only believe that you do not have to learn as you said that with proper planning and preparation that you will succeed in any area of business you are passionate about, is there any need to learn ?

Being passionate about something would make you to always be interested in learning the basics and this makes you a winner always. That's what I mean.

 

[Sotherefore]

Being passionate about something would make you to always be interested in learning the basics and this makes you a winner always. That's what I mean.

Ok you mean that even though you're passionate about something means that it is necessary still to learn about it before you can succeed ? don't you think my passion is enough to allowed me to succeed in the business I am going into ?

 

[Richard92]

That is just like gambling with your capital and it is usually not advisable as you would run into losses in a way that you won't be able to handle.

It has a great importance when you have a long-term financial plan for your business this help your business so be able to sustain enough capital in terms of managing the business.

 

[GIFTMICHAEL]

Better business plan with vision brings long time financial plan. Not every entrepreneur have such kind of plan to drive long time financial stability in their business cos of the plans they choose which isn't justifiable as time goes on.

 

[Bookwormlux]

It has a great importance when you have a long-term financial plan for your business this help your business so be able to sustain enough capital in terms of managing the business.

Things like this are usually not easy as we get so many challenges while planning to sustain the goal, but persistence is key to success as it's the main vision.

 

[Josephjossy]

Anybody in any business need to plan for his business long term financially.you need to plan for the future if your business. You need to have money to support the business in case if you have some challenges

 

[Bookwormlux]

Long term planning helps you to have enough time to reassess what ever it is you are doing an understand whether it would work or not so you can change your mind.

 

[Hena101]

Any business suppose to have long term plan and short time plan. Because is only when you have a long term plan that you will be committed to see that you achieved it, and also short time plan so that it can motivate you and make you believe that the long term plan can also be actualise.

 

[Alexandoy]

Better business plan with vision brings long time financial plan. Not every entrepreneur have such kind of plan to drive long time financial stability in their business cos of the plans they choose which isn't justifiable as time goes on.

If the business owner has a vision then the long term planning would be best to have. Usually the focus of the business owner is on the profitability at the present time. What about tomorrow, what about next year? Like now in this pandemic era we need to have plans when the pandemic ends.

 

[Richard92]

If the business owner has a vision then the long term planning would be best to have. Usually the focus of the business owner is on the profitability at the present time. What about tomorrow, what about next year? Like now in this pandemic era we need to have plans when the pandemic ends.

1 basic purpose of long-term planning or financial planning for a business he is to be able to know the required capital that will be enough to start up the business run the business

 

[GIFTMICHAEL]

If the business owner has a vision then the long term planning would be best to have. Usually the focus of the business owner is on the profitability at the present time. What about tomorrow, what about next year? Like now in this pandemic era we need to have plans when the pandemic ends.

That's for sure, we need plans post covid19, we need to start again. And also not relaxing our minds cos another uncertainty greater than covid19 might surface, so we'll always prepare for them.

 

[Chibson]

Long-term financial planning is very important for any business because when such business has the plans in place even if there is crisis they will always have a place finance their business.